Mobile Banking services nowadays ease the Banking service to all people at anytime, anywhere. We badly feel the necessity of mobile banking service during this Covid-19 emergency situation. From a report from our Ministry of Finance, we got to know that about 05(Five) Million transactions are made in a day by the people of our country. From a recent public opinion survey, we categorized a list of top mobile banking service providers in Bangladesh.
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What is Mobile banking?
Mobile Banking is a service a bank or financial institution allows its registered customer to make financial transactions from anywhere using a mobile phone.
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Now, let’s know about Mobile Banking Services in Bangladesh.
Recently, many banks and financial institutions provide mobile banking services and also introduce mobile friendly apps which boosts the range of mobile banking services. Today one can transfer the required amount to one’s destined person in one click. Without this some banks are providing facilities like electric bill, Gas bill, Water bill, Merchant payment, Donation, Mobile recharge and so on. Few banks are allowed to add money from a Bank account or from any card.
Top Mobile Banking Services List in Bangladesh.
1. Bkash
2. Nagad
3. Rocket
4. mCash
5. SureCash
6. Ucash
7. T-Cash
8. Ok Wallet
9. PI Banking
Overview of Mobile Banking Services In Bangladesh
1. Bkash:
Bkash was founded by Mr. Kamal Quadir in 2011 as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, United States of America. Bkash is the fastest, safest and secures mobile banking service. Its basic service is Cash in, Cash Out, Send Money but day by day it’s trying to add various features according to public demand i.e. Merchant pay, Bill payment, Mobile recharge, Insurance premium, Add money from Banks and cards, Credit Cards bill payments. The most common advantage of Bkash is the availability of Agents and withdrawal from ATM of BRAC Bank. However, in my view Bkash charges which are higher than that of other mobile banking services. (Dialing code of Bkash: *247#)
2. Nagad:
Nagad was founded in March, 2019 under the authority of Bangladesh Post Office, an attached department of the Ministry of Post and Telecommunication, and operated by Third Wave Technologies Limited. Nagad offers the lowest Cash out charge @9.99% by using App. One can find quite similar services like Bkash. Moreover, since the Covid-19 situation, the Government of Bangladesh allows Primary and Secondary school Stipend to the beneficiary through Nagad. Its drawback is the lower number of agents throughout the country. (Dialing code of Nagad: *167#)
3. Rocket:
Rocket is a subsidiary service of Dutch Bangla Bank Limited started on 31 March, 2011. It provides Cash-in and Cash-out activities, Other activities like P2P disbursement of foreign remittance, salary/wages, government’s/other allowances, air-time top-up, buying goods and services etc. It also allows ATM withdrawal from DBBL. Its disadvantage is the lower number of agents throughout the country. (Dialing code of Rocket: *322#)
4. mCash:
MCash is a method of mobile financial transactions introduced by Islami Bank Bangladesh Limited. It is linked with your Bank account and you are able to deposit, withdraw, online mobile recharge or mobile top-up, transfer funds, Merchant payments and even pay your utility bills. (Dialing code of MCash: *259#)
Recently they introduced another mobile application namely Cellfin which merges with the Mcash it and provides the same service. Disadvantage of this application is you must be a Smartphone user.
5. SureCash:
SureCash started its services in 2014, in partnership with 4 local banks, including 01 state owned Scheduled Bank named Rupali Bank Limited and the others are First Security Islami Bank Limited, Bangladesh Commerce Bank Limited, Jamuna Bank Limited. It provides the services of Merchant pay, Bill payment, Mobile recharge, Credit Cards bill payments etc. Disadvantage of this application is you must be a Smartphone user.
For Balance Check Dial code of SureCash:
- Grameen Phone-09606060606 or 09609090909
- Banglalink- *495#
- Airtel-*257#
- Robi-*257#
- Teletalk-*375#
6. Ucash:
UCash is a subsidiary service of United Commercial bank Limited (UCBL). It allows its customer Merchant pay, Bill payment, Mobile recharge, Credit Cards bill payments etc. Its disadvantage is the lower number of agents throughout the country. (Dialing code of UCash: *268#)
7. T-Cash:
T-Cash is a mobile banking service provided by Trust Bank Limited on August 31, 2010. It allows its customers Merchant pay, Bill payment, Mobile recharge, Passport Fee payment, National ID Correction or Reissue Fee payment etc. Its disadvantage is the lower number of agents throughout the country. (Dialing code of T-Cash: *201#)
8. Ok Wallet:
Ok Wallet is a subsidiary service of ONE Bank Limited. It allows its customer Merchant pay, Bill payment, Mobile recharge, add money from Bank account and Cards etc. Its disadvantage is the lower number of agents throughout the country. (Dialing code of Ok Wallet: *269#)
9. Pi Banking:
Pi Banking is a mobile banking facility introduced by Pubali Bank Limited for its customers. It is linked with your Bank account and you are able to withdraw, online mobile recharge or mobile top-up, transfer funds, Merchant payments, utility bills, Card bills etc.
Process of Account opening
For account opening visit your nearest agent with:
1. Your mobile phone with active SIM.
2. A copy of your Photo ID (either National ID, Passport or Driving License)
3. 2 copies of Passport sized photographs.
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